Recourse Loan
A Recourse Loan is a financing arrangement that allows the lender to pursue the borrower's personal assets if the collateral's value is insufficient to cover the outstanding debt after a default.
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What is a Recourse Loan?
It provides the lender with full legal recourse to recover their funds, requiring the borrower to be personally liable for the entire loan amount.
Common Features of Private Lending Software
Workflow Automation
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Ecosystem Integrations
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Why Recourse Loans Matter
They represent a higher risk for the borrower but often come with more favorable interest rates and terms due to the reduced risk for the lender.
Lien
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Real Estate Investment Trust
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Refinancing
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After Repair Value
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Loan Term
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Balloon Payment
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